Trump’s Net Worth Jumps Over $500 Million As DJT Stock Rises

Topline

Shares of Trump Media & Technology Group, which owns former President Donald Trump’s social media platform Truth Social, jumped more than 15% on Monday—adding more than $500 million to Trump’s net worth, though the company is still trading well below earlier this year.

Key Facts

The share price of Trump Media, which trades with the ticker $DJT, was up 15.98% to almost $30 a share as of 1:48 p.m. EDT Monday—which helped to increase Trump’s net worth by $531 million.

Trump, who owns 57% of Trump Media shares according to the latest FactSet data, was worth $5.5 billion as of 1:48 p.m. EDT Monday, making him the 603rd wealthiest person in the world according to Forbes’ real-time tracker.

DJT—which is often regarded as a “meme stock,” meaning its price responds to non-earnings developments like Trump’s likelihood of winning the White House in November—has been rising since it hit new lows in late September, but it is still trading well below its peak of $66 shortly after it went public in March.

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Why Are Trump Media Share Prices Rising?

A number of media reports are attributing the steady rise to Trump’s increased betting odds of winning the November election. On Friday, the Election Betting Odds tracker—which consolidates odds from five major markets—gave Trump a 53.2% chance of winning compared to Harris’ 45.8%. Earlier last week, after billionaire Elon Musk appeared at a rally with Trump, the former president had his highest odds since early August when Harris took over the Democratic nomination. Matthew Tuttle, CEO of Tuttle Capital Management, told CNN the changes in share price are “really simple,” saying: “People realize that if Trump gets elected, this stock has the potential to do something. And if he doesn’t get elected, it probably goes to zero.”

Contra

Though betting markets have been favoring Trump recently, two major national polling averages still have Harris on top. FiveThirtyEight’s national average shows Harris with a 2.4-point lead over Trump on Monday, and RealClearPolitics’ polling average has Harris ahead by 1.7 points. FiveThirtyEight currently forecasts Harris has a 53-in-100 chance of winning while Trump has a 46-in-100 chance, suggesting a virtual tie.

What To Watch For

How Trump Media’s third-quarter earnings report looks. The report will be out in mid-November, after the previous report indicated low revenue and reported losses. After the poor second-quarter earnings report, Trump Media hit a four-month low and sunk Trump’s net worth by around $170 million.

Further Reading

ForbesTrump Media Stock Jumps 17%—Adding Almost $400 Million To Trump’s Net Worth
ForbesTrump Media Stock (DJT) – New Phase AnalysisForbesTrump’s Election Odds Spike On Polymarket As Musk Touts Betting Site

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